Expecting EURJPY to breakout of the consolidation to form another higher lower before breaking above resistance to complete buy at the higher key resistance level. With the rollout of vaccines, expect markets to become more optimistic.
Fundamental Analysis: President Elect Joe Biden intends to continue with another stimulus package when he takes office. future stimulus packages will further weaken the USD.
Technical Analysis: Price is currently in a downtrend channel. Expect price to retest the upper bound of the channel before continuing to sell long-term towards major support level.